Begbies Traynor celebrates profit rise; confident in outlook

Begbies Traynor Group PLC on Tuesday announced a higher interim dividend amid a jump in statutory profit as it expects to meet full year results in line with current market expectations.

The Manchester, England-based insolvency advisor said pretax profit surged 83% to £8.6 million in the six months to October 31, from £4.7 million a year ago. Revenue climbed 8.8% to £82.0 million from £76.3 million.

Adjusted pretax profit climbed 5.2% to £12.1 million from £11.5 million.

Non-underlying items costs came down 49% to £3.5 million from £6.5 million, which Begbies said explained the surge in statutory pretax profit.

Bebgbies declared a 7.1% increase in the interim dividend to 1.5p from 1.4p.

Begbies said its half-year performance underpinned the board’s confidence in delivering current market expectations for the full year, extending its track record of profitable growth.

It cited an analyst consensus of between £23.7 million and £24.9 million in adjusted pretax profit, which would be between 0.9% and 6.0% higher than £23.5 million in financial 2025.

Executive Chair Ric Traynor said: ‘Our broad range of services, diversified client base, organic growth initiatives and pipeline of acquisition opportunities, leaves us confident of continuing to build upon our strong track record of growth, as we progress to our medium-term target of £200 million revenue.’ The medium-term target would be 30% higher than £153.7 million in financial 2025.

Begbies will release a third quarter trading update in late February.

Begbies shares were 0.9% higher at 111.00 pence each on Tuesday afternoon in London.

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